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Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 12,300 17,200 10,700 34,500 21,000 20,750 26,800 5,500 12,750 27,500 10,500 7,340 33,500 63,600 291,240 27,000 14,800 Pepper Company $ 18,400 22,650 9,150 25,300 43,800 15,200 18, 200 7,800 14,750 56,500 12,200 3,300 64,000 57,700 374,680 16,700 21,200 Exercise 14-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31.

Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 12,300 17,200 10,700 34,500 21,000 20,750 26,800 5,500 12,750 27,500 10,500 7,340 33,500 63,600 291,240 27,000 14,800 Pepper Company $ 18,400 22,650 9,150 25,300 43,800 15,200 18, 200 7,800 14,750 56,500 12,200 3,300 64,000 57,700 374,680 16,700 21,200 Exercise 14-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 3CMA: Kimbeth Manufacturing uses a process cost system to manufacture dust density sensors for the mining...
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Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Required 1 Required 2 Direct materials Raw materials inventory, beginning Add: Raw materials purchases Raw materials available for use Less: Raw materials inventory, ending Direct materials used Direct labor Factory overhead Factory utilities Indirect labor Rental cost on factory equipment Repairs-Factory equipment Total factory overhead Total manufacturing costs Add: Work in process inventory, beginning Total cost of work in process Less: Work in process inventory, ending Cost of goods manufactured Exercise 14-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 12,300 17,200 10,700 34,500 21,000 Goods available for sale $ Cost of goods sold 20,750 26,800 $ 5,500 12,750 27,500 $ 10,500 7,340 33,500 63,600 291,240 27,000 14,800 Garcon Company Garcon Company 10,700 $ 33,500 44,200 5,500 38,700 21,000 12,750 10,500 34,500 7,340 65,090 < Required 1 Pepper Company $ 18,400 22,650 9,150 25,300 43,800 0 15,200 18,200 7,800 14,750 56,500 12,200 3,300 64,000 57,700 374,680 16,700 21,200 Pepper Company 0 $ 0 $ 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year en- December 31. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Complete this question by entering your answers in the tabs below. Pepper Company 9,150 64,000 73,150 7,800 65,350 43,800 Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. 14,750 12,200 25,300 3,300 55,550 0 0 Required 2 >
Transcribed Image Text:Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Required 1 Required 2 Direct materials Raw materials inventory, beginning Add: Raw materials purchases Raw materials available for use Less: Raw materials inventory, ending Direct materials used Direct labor Factory overhead Factory utilities Indirect labor Rental cost on factory equipment Repairs-Factory equipment Total factory overhead Total manufacturing costs Add: Work in process inventory, beginning Total cost of work in process Less: Work in process inventory, ending Cost of goods manufactured Exercise 14-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 12,300 17,200 10,700 34,500 21,000 Goods available for sale $ Cost of goods sold 20,750 26,800 $ 5,500 12,750 27,500 $ 10,500 7,340 33,500 63,600 291,240 27,000 14,800 Garcon Company Garcon Company 10,700 $ 33,500 44,200 5,500 38,700 21,000 12,750 10,500 34,500 7,340 65,090 < Required 1 Pepper Company $ 18,400 22,650 9,150 25,300 43,800 0 15,200 18,200 7,800 14,750 56,500 12,200 3,300 64,000 57,700 374,680 16,700 21,200 Pepper Company 0 $ 0 $ 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year en- December 31. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Complete this question by entering your answers in the tabs below. Pepper Company 9,150 64,000 73,150 7,800 65,350 43,800 Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. 14,750 12,200 25,300 3,300 55,550 0 0 Required 2 >
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